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NTWK - NetSol Technologies Inc News Story

$4.15 0.0  0.7%

Last Trade - 06/12/21

Micro Cap
Market Cap £35.2m
Enterprise Value £27.8m
Revenue £42.0m
Position in Universe 6089th / 7335

NETSOL Announces Expansion of Strategic Partnership with CGI in Europe

Tue 26th October, 2021 1:00pm
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CALABASAS, Calif., Oct. 26, 2021 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc.
( (Nasdaq: NTWK
a global business services and enterprise application solutions provider,
today announced an expansion of its strategic partnership with leading IT and
business consulting services firm CGI
in Europe. The agreement builds on the close collaboration between the two
global IT service providers in the United Kingdom and the United States. The
two companies have teamed up to offer NETSOL's premier, next-generation NFS
Ascent(®) platform to the global finance and leasing industry, supported by
CGI's local business consulting, IT integration, and managed service

NFS Ascent supports the full client, product, and contract management
lifecycle from lead generation through credit proposal, credit approval,
contract generation, contract management, payment execution, collections and
financial restructuring, in-life management, and end-of-life administration.
Ascent supports cross-border, international operations in complex corporate
and operating structures. Its multi-tenant capabilities help asset-based
finance organizations ensure compliance with local tax and regulatory regimes
as well as local client acceptance, product, finance and credit risk policies.
NFS Ascent also offers strong product, campaign, workflow and business rules
configuration capabilities, giving clients maximum flexibility to adapt, grow
and futureproof their business with minimal effort. The next-generation
platform is also available via deployment on the cloud offering ability to
deploy rapidly and scale on demand while benefitting from flexible,
subscription-based pricing.

CGI leverages its client proximity model to support clients with the right
blend of skills and on-and-off-shore resources throughout selection,
contracting, implementation and operation of the NFS Ascent solution; these
offerings include business consulting, IT integration, infrastructure and BPM
services. CGI brings local market knowledge and asset-based finance sector
expertise to help clients design and implement their target business operating
model and optimize the client’s future enterprise architecture. As part of
its expanded relationship with NETSOL, CGI will integrate NFS Ascent within
its clients’ complex IT and operating environments and ensure the solution
is configured to meet local market practices and finance, risk and regulatory
compliance policies.

CGI and NETSOL initially formed an alliance in 2019 to help NETSOL deliver
their first end-to-end cloud managed service for the Ascent platform for a
United Kingdom based automotive wholesaler. CGI delivered the cloud
infrastructure and support services, leveraging its five-star service desk and
working in collaboration with NETSOL’s application team to ensure customer
systems were supported 24/7 across the entire technology stack. In 2020,
NETSOL subsidiary Otoz
partnered with CGI to support the Company’s mobility product in the United
States for a large automotive OEM and captive.

“Partnering with a global IT service provider like CGI enables us to provide
our customers with leading industry and application-specific IT solutions,”
said Najeeb Ghauri, Founder, Chairman and Chief Executive Officer of NETSOL
Technologies. “This important and expanded partnership will be most
impactful to our joint customers in the commercial, finance and leasing
sectors. With CGI’s expertise, we expect to accelerate and maximize the
value proposition from IT investments and deliver the results our customers
need to streamline and grow their businesses.”

Joe Knightly, Vice President Consulting Services at CGI Netherlands, added:
“CGI has longstanding relationships with leading financial services
providers in Europe, based on in-depth industry knowledge, independent advice
and a consistent delivery track record. Partnering with NETSOL enables us to
enhance our offering with the best-in-class turnkey solution for our

About CGI 
Founded in 1976, CGI is among the largest IT and business consulting services
firms in the world. The company is insights-driven and outcome-based to help
accelerate returns on their client’s IT and business investments. CGI’s
goal is to build trusted relationships through client proximity, providing
industry and technology expertise to help their clients meet the needs of
their customers. Through their global insights and local experts, CGI helps
build strategies and delivers services and solutions that achieve tangible

About NETSOL Technologies
NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and
enterprise software solutions primarily serving the global finance and leasing
industry. The company’s suite of applications is backed by 40 years of
domain expertise and supported by a committed team of more than 1300
professionals placed in eight strategically located support and delivery
centers throughout the world. NFS, LeasePak, LeaseSoft or NFS Ascent(®) –
help companies transform their finance and leasing operations, providing a
fully automated asset-based finance solution covering the complete finance and
leasing lifecycle.

Forward-Looking Statements
This press release may contain forward-looking statements relating to the
development of the Company's products and services and future operating
results, including statements regarding the Company that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those projected. The words “expects,” “anticipates,”
variations of such words, and similar expressions identify forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, but their absence does not mean that the statement is not
forward-looking. These statements are not guarantees of future performance and
are subject to certain risks, uncertainties, and assumptions that are
difficult to predict. Factors that could affect the Company's actual results
include the progress and costs of the development of products and services and
the timing of the market acceptance. The subject Companies expressly disclaim
any obligation or undertaking to update or revise any forward-looking
statement contained herein to reflect any change in the company's expectations
with regard thereto or any change in events, conditions or circumstances upon
which any statement is based.

Investor Relations Contact:

Matt Glover and Tom Colton
Gateway Investor Relations


GlobeNewswire, Inc. 2021
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